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EUR/GBP Trendmagic System

  • #561
  • Jun 7, 2009 10:21am Jun 7, 2009 10:21am
Just remember 1 thing if Monday produces a losing day or nail biting trades do not walk away all trading systems will do this its part of trading

I used to walk out of my office once my stop and TP were set if I couldn't see it I wouldn't interfere with it and I wouldn't worry so much about it.

2 traders A and B both get the same signals but one loses one wins at the end of the day .

trader A

1st signal wins 2nd loses 3rd loses he get jumpy doesnt take the 3rd 'doesnt look right' it wins damm ! he takes the next it loses he doesnt take the next it wins.. as so on and so on

If you trade in a mechanical way you must take every signal if you do not take a signal because its just under the high of the day then that rules MUST apply to all you signals.

Do not pick and choose with what ' looks right' I personaly take every signal Im here for aprt from signals generated in the Asian session.

Consistancy is just as important as MM

P
  • #562
  • Jun 7, 2009 10:22am Jun 7, 2009 10:22am
Quoting gillybabe
Hi Paulus, I have been studying and studying this thread and am going live with it tomorrow. Why would you wait for the 5m to go red and then re-enter on blue blue . I apologise if this is a stupid question, but I thought you entered when the 5m agreed with either 15 or 30?

I believe we want to ride the trend as early as possible? If not, the trend might be coming to an end, so wait for it to switch will be the best?
  • #563
  • Jun 7, 2009 10:23am Jun 7, 2009 10:23am
ah yes I see ..

15 and 30 are erd for example and then the 5 goes red and you go short..

you get stoped out all 3 are still red I wait for the 5min to go blue and then when it goes red as long as 15 or 30 is red I go short again

These rules may well change this is an infant system dont forget

P
  • #564
  • Jun 7, 2009 10:26am Jun 7, 2009 10:26am
Quoting Paulus
Just remember 1 thing if Monday produces a losing day or nail biting trades do not walk away all trading systems will do this its part of trading

I used to walk out of my office once my stop and TP were set if I couldn't see it I wouldn't interfere with it and I wouldn't worry so much about it.

2 traders A and B both get the same signals but one loses one wins at the end of the day .

trader A

1st signal wins 2nd loses 3rd loses he get jumpy doesnt take the 3rd 'doesnt look right' it wins damm ! he takes the next it loses he doesnt take the...

Paulus is 100% right on this part. I have traded for several years a system that produced an average of 40k per year on one ES car. That system was also used by several "traders". Do you know the percentage of people that lost money even with a system that makes 40k a year.....90%!!!! The reasons.......Paulus just told you.

PR
  • #565
  • Jun 7, 2009 10:27am Jun 7, 2009 10:27am
Quoting s050399b
better to take the next change in trend; waiting for M5 to go blue, and red again.

See post: http://www.forexfactory.com/showpost...&postcount=526
Thanks, I missed that!
Full-time trader and loving it!
  • #566
  • Edited 10:39am Jun 7, 2009 10:28am | Edited 10:39am
agree with you 100%, we need to be mechanical and take the signals, as long as we use prudent MM and trade as per our risk levels, we should not worry about losses, its part of trading and no one can be always 100% correct. its vital we have Stops in Place and TP's .

Example of a 1 min chart trade, it was counter trend at that time but still yielded pips. Just an example.

Quoting profundo
Paulus is 100% right on this part. I have traded for several years a system that produced an average of 40k per year on one ES car. That system was also used by several "traders". Do you know the percentage of people that lost money even with a system that makes 40k a year.....90%!!!! The reasons.......Paulus just told you.

PR
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Trend is your friend...
  • #567
  • Jun 7, 2009 10:29am Jun 7, 2009 10:29am
Quoting Edgetrader
If not to intrusive, can you give me a full chart shot of that trade? I need the pair and TF in order to proceed with some further analysis.

Regards.
I was just using that chart shot as an example to explain what I was going on about. Not an actual trade.
Thanks for the feedback though, it really is appreciated.
Full-time trader and loving it!
  • #568
  • Jun 7, 2009 10:30am Jun 7, 2009 10:30am
Quoting Paulus
Just remember 1 thing if Monday produces a losing day or nail biting trades do not walk away all trading systems will do this its part of trading

I used to walk out of my office once my stop and TP were set if I couldn't see it I wouldn't interfere with it and I wouldn't worry so much about it.

2 traders A and B both get the same signals but one loses one wins at the end of the day .

trader A

1st signal wins 2nd loses 3rd loses he get jumpy doesnt take the 3rd 'doesnt look right' it wins damm ! he takes the next it loses he doesnt take the next...
I totally agree with you. Missing out trades will only mess up the probability of the system.
  • #569
  • Jun 7, 2009 10:31am Jun 7, 2009 10:31am
Quoting Paulus
Do not pick and choose with what ' looks right' I personaly take every signal Im here for aprt from signals generated in the Asian session.

Consistancy is just as important as MM

P
Paulus,
Will you define the "Asian Session" in specific GMT times?

"Asian session" has several working definitions.

If you mean the Tokyo session, it lasts from 00:00 GMT through 09:00 GMT.
It ends two hours after London opens.
If you include Australia and New Zealand, it begins before 00:00 GMT.

What do you consider the Asian Session?

If you have answered this previously, I apologize.
  • #570
  • Jun 7, 2009 10:33am Jun 7, 2009 10:33am
Your link for the explanation on the first post is excellent. My mistake was I was waiting for the 15 and 30 to line up. Much less trades but they were an outrageously high hit rate. Looking now there is more opportunity. Thanks for the awesome system. Also a special thanks to Tudor Girl, your indicators are phenomenal.. This system seems to good to be true.

Quoting Paulus
ah yes I see ..

15 and 30 are erd for example and then the 5 goes red and you go short..

you get stoped out all 3 are still red I wait for the 5min to go blue and then when it goes red as long as 15 or 30 is red I go short again

These rules may well change this is an infant system dont forget

P
  • #571
  • Jun 7, 2009 10:34am Jun 7, 2009 10:34am
Quoting forexisfx
I totally agree with you. Missing out trades will only mess up the probability of the system.
There's not many things worse - trading wise - than skipping a signal through fear only to see the missed trade generate profit. Very psychologically destabilising.
  • #572
  • Jun 7, 2009 10:35am Jun 7, 2009 10:35am
Quoting trademeister
Mr Edgetrader,
I can see you feel angry. But, please cool yourself off before posting.
Thx, and apologies to Notch. But we need to be clear in this matter.

The indi's currently set forth to ALL of you via the TM and TG varieties are nothing more than a rough draft for you to play with. My own trading is being utilized as an outside perspective utilizing a separate format that may lead to futher modifications and thereby incorporation into a modified indi that could possibly benefit everyone here.

However, I will reconsider my efforts at such and refrain from posting any alternative chart shots as they may only lead to confusion. I can see it is best to leave all with a targeted indi to work with on a demo trade or perhaps live trade with pennies and dimes until the work here is completed.

As with others, I do indeed wish you all success with this method.

Regards.
  • #573
  • Jun 7, 2009 10:38am Jun 7, 2009 10:38am
Quoting Edgetrader
Thx, and apologies to Notch. But we need to be clear in this matter.


Regards.

No problem mate
  • #574
  • Jun 7, 2009 10:50am Jun 7, 2009 10:50am
Quoting nisha4x
agree with you 100%, we need to be mechanical and take the signals, as long as we use prudent MM and trade as per our risk levels, we should not worry about losses, its part of trading and no one can be always 100% correct. its vital we have Stops in Place and TP's .

Example of a 1 min chart trade, it was counter trend at that time but still yielded pips. Just an example.
Can I ask - is your MTF running m1 downwards or m1 upwards?
  • #575
  • Jun 7, 2009 10:50am Jun 7, 2009 10:50am
GBP/USD....H1

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  • #576
  • Edited 10:56am Jun 7, 2009 10:54am | Edited 10:56am
Quoting Finsbury
GBP/USD....H1

Attachment
FYI folks, this is Paulus' thread and he just asked that we only post clean charts with TM indicator - lets please respect his wishes.

Per Paulus:

"In theory the only charts posted in this thread should be a clear candle chart with TM on it and perhaps another...please no multy colour migrain inducing charts"
Believe and Achieve!
  • #577
  • Jun 7, 2009 10:54am Jun 7, 2009 10:54am
Quoting Finsbury
GBP/USD....H1

Attachment
Are you sure you posted it on the right thread???

Many share my views with me. But I don't share them with them...
  • #578
  • Jun 7, 2009 10:59am Jun 7, 2009 10:59am
Quoting TudorGirl
Guys
Some "light" Sunday reading for you....
Although it is by no mean obvious, there is a very close analogy between "anti-persistent" markets and hydrodynamic turbulence in fluid flow at high Reynolds Numbers.
Nearly all markets (stocks, commodities, futures, etc) are "persistent" and do not work with this idea. But almost uniquely, the FOREX market is "anti-persistent". This is great for us as we can exploit the connection to turbulence in fluid flow.
When you put energy into a fluid system at the macro level, like stirring a bucket of...

TudorGirl,

Your post drawing parallels between fluid dynamics and Forex is very interesting indeed.
I love analogies like this, especially ones with turbulent and laminar flows in them! Although it's aerodynamics that comes into my mind first, and not even the theory but a rather practical approach (i.e. sometimes the difference between laminar and turbulent air flows means a couple of more hours spent in the air) it's always enlightening when people put market behaviour into perspective.

My brother who is also a physicist sent the attached pdf, an article from Nature, quite old, nonetheless pretty interesting - might be of some help/contribution to your project.
Anyway, thank you and Paulus for all the work.

All best
Sam
Attached File(s)
File Type: pdf Ghashghaie-TurbulentCascadesinFX-Nature-1996.pdf   939 KB | 1,263 downloads
  • #579
  • Jun 7, 2009 11:12am Jun 7, 2009 11:12am
my MTF is downwards 1 min, 5 , 15 and 30 , topmost is 30 mins and bottom is 1 min

Quoting gillybabe
Can I ask - is your MTF running m1 downwards or m1 upwards?
Trend is your friend...
  • #580
  • Jun 7, 2009 11:40am Jun 7, 2009 11:40am
Bill

my Mig Mt4 is set to 0-8am for the Asian session different brokers have different server times couple that with where we all are in the world and ...its confusing.

My thread labeled 1 trade a day spent several pages just on this I stayed out of it ..basically what ever works for you I'm sure an hour wont make alot of difference belive me it will be swings and round abouts..I just want to sit out the bulk of the Asian session.

Any way im still in bed sucking my thumb at that time

P
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